Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what information his Department holds on the number of people who have paid a charge to withdraw money early from an ISA in the last three years; and if he will make an estimate of the total value of those charges.

Withdrawals from ISAs do not attract a statutory withdrawal charge. The exception is the Lifetime ISA where a 25% charge applies on the amount withdrawn, other than where the withdrawn funds are used by a first-time buyer to purchase a home that costs £450,000 or below, or where the investor is terminally ill or aged 60 or over. Statistics on the number of individuals making unauthorised withdrawals from the Lifetime ISA and the value of these charges can be found in HMRC’s published annual savings statistics 2023.

www.gov.uk/government/statistics/annual-savings-statistics-2023